Poor customer experience is costing financial institutions $10 billion in revenue annually, according to an industry report released earlier this year. It’s a staggering figure that underscores how critical it is for financial services firms to delight their customers at every interaction. But, when you consider the industry’s complex, highly regulated environment and the customer expectation for a seamless experience across devices and operating systems, it’s clear that this is anything but a simple task.
No matter what industry you’re in, providing an exceptional digital experience to your customers is paramount. It’s particularly tricky in financial services, as more and more users ditch physical branch locations for online banking. By 2019 in the UK, mobile banking is expected to overtake desktop as the preferred channel. And for two-thirds of Americans, a recent survey found that online and mobile banking represent their primary banking channels.